You are here

Wells Fargo chief quits after fake account scandal

Fri, Oct 14, 2016 - 5:50 AM

Mr Stumpf has taken responsibility for the problems, but will not admit anything wrong with the bank's culture.

PHOTO: BLOOMBERG

New York

THE scandal engulfing Wells Fargo toppled its chairman and chief executive on Wednesday as John Stumpf announced his departure from the company, effective immediately. The move was a swift and stunning fall for an executive whose bank made it through the 2008 financial crisis...